Since the 2009 version, Peachtree has allowed you to run reports for closed years, but I still recommend making a copy of your Peachtree data right before closing the year. There are two methods for creating an archive copy of your Peachtee company.
If you use Peachtree Premium or Quantum you will find Archive Company in the File menu. If you click on it you will be prompted for an archive name. The name will default to the word “archive” and the current date but you can change it to something more meaningful if you want to, such as “Prior To 2009 Year End Close”. The archive name does not replace the company name. It is used in addition to the company name to identify this copy of your data. You can do this at any time that you want a snapshot of your data. You also have the option of creating an archive during the Year End Wizard in Premium and Quantum.
Copies of your company made using the Archive function are “read only”. This is good because if you never have to wonder if someone has added, edited, or deleted the data in them. A slight drawback is that you can’t count on this copy as a backup because there is no way to make it not read only. Another difference between archive companies and regular companies is where they are stored and how you open them. They are stored in a subfolder of the folder your regular company files are stored in. And you open an archive by going to the File menu and choosing Open Archived Company.
For all other versions of Peachtree, you can use the process that everyone used before the Archive feature was introduced. All you do is make a backup, restore it to a new company, and then rename it. Here are the steps in more detail.
* Open the File menu and choose Backup.
* Check the Include company name in the backup file name box if you want, and click the Backup button.
* Make note of the file name and location and click the Save button. If you would like, you can change the file name and location first.
* After the backup completes, go to the File menu and choose Restore.
* Click the browse button and find the backup that you just made and click Next. (Peachtree usually remembers the last backup name, so it may already be selected)
* Choose the option “A New Company”. If you leave this setting on “An Existing Company” the company that is currently open will be replaced by the data in the backup! If you are on an old version of Peachtree you will not have the New Company option. You will need to cancel the restore, create a new empty company (the company name is the only setting you need to enter) and then restore the backup you made over the new empty company.
* At Restore Options check only Company Data and click Next.
* When the restore is finished you will be in the new company. The last step is to change the company name so you can tell it apart from your regular company. Go to the Maintain menu and choose Company Information. At the beginning of the company name, enter the year that you are archiving, and click OK.
* If you are on Peachtree Complete, one more optional, but recommended step is to change each user’s security settings to “View Only” to prevent accidental changes to your archive (Maintain – Users).